I been using Chime for 2 years now. no issues with taxes or direct deposits ever. just make sure ur account info is 100% correct when u file

I've been using Chime for my refunds for the past 3 years and honestly it's been pretty reliable. Usually get my money 1-2 days early like they advertise. The key is making sure your routing/account numbers are exactly right when you file - any typo will cause delays. No hidden fees on my end, but definitely keep some backup plan just in case there are processing hiccups.

I was in a similar situation last year with over 200 cryptocurrency transactions that I was dreading having to list individually. After researching the IRS guidelines and consulting with a tax professional, I can confirm that consolidation is absolutely allowed and widely practiced. The key things I learned: Keep meticulous records of every individual transaction (date, amount, price, fees, etc.) even though you're consolidating on the form. Group transactions by the same asset and similar circumstances (regular trades vs wash sales). Make sure your consolidated totals exactly match what's reported on your 1099-B forms. Use "VARIOUS" for dates when you have multiple acquisition or sale dates for the same asset. I ended up consolidating about 200 transactions down to 12 lines on Form 8949, and my tax preparer said it was perfectly compliant. The IRS actually prefers this approach for high-volume traders because it makes their processing easier too. Just be prepared to provide detailed backup documentation if they ever ask for it (which is rare). Don't let the fear of an audit keep you from using a legitimate IRS-approved method!

As someone who's been through this exact situation, I can confirm that consolidation is definitely the way to go! I had over 300 trades last year and was absolutely panicking about the paperwork until I learned about this option. The IRS Publication 550 specifically mentions that you can use summary reporting for multiple transactions of the same security. Your tax advisor was right - this is completely legitimate and widely used by active traders. A few practical tips from my experience: Make sure you have a good system for organizing your detailed records by asset type and date. I created a spreadsheet that tracks every individual transaction and then calculates the consolidated totals for each unique security. Double-check that your consolidated amounts match your 1099-B forms exactly - even a penny difference can cause headaches. Also, don't forget to indicate the proper basis reporting category (covered vs non-covered) and holding period (short-term vs long-term) when consolidating. You can't mix these categories on the same line. The peace of mind of having a manageable Form 8949 instead of a phone book is absolutely worth it, and you're not doing anything wrong or risky!

Check your tax transcript. Online. Might show what the original issue was. Could give you clues. Worth a look. Faster than waiting.

Ana, I understand your concern about receiving Notice 1462! As others have mentioned, this notice is essentially the IRS saying "we received your response and are working on it." Since you mentioned being recently retired, I'm curious - do you recall what the original notice was about? Given that you're dealing with new retirement income sources like pension and Social Security, the original issue might have been related to income reporting discrepancies. The good news is that Notice 1462 means they're actively reviewing your case, not that there's a new problem. Since you're so well-organized with your tax documents (love the color-coded folders!), you're already ahead of the game. I'd recommend checking your online IRS account or requesting a tax transcript as Kendrick suggested - this might give you more insight into what triggered the original notice. The waiting period can be nerve-wracking, but try not to stress. The IRS is just extremely backlogged right now. Keep doing what you're doing with your tax preparer, and you should be fine!

One thing that really helped me when I was confused about Solo 401k deductions was understanding the IRS's logic behind the reporting. The reason it goes on Schedule 1 instead of Schedule C is that retirement contributions are considered "above the line" deductions that reduce your adjusted gross income, not business operating expenses. Think of it this way: if you were an employee at a regular company, your 401k contributions would come out of your paycheck before taxes, reducing your W-2 income. The Solo 401k works similarly - it reduces your taxable income but after you've already calculated your business profit on Schedule C. Here's a helpful tip: when you're calculating your maximum employer contribution (that 25% of net earnings), you need to use your net self-employment income AFTER deducting half of your self-employment tax. Most Solo 401k calculators online will walk you through this, but it's worth double-checking the math yourself. Also, don't forget that unlike SEP IRAs, you can actually take loans from your Solo 401k if you ever need access to the funds (though there are rules and limitations). That flexibility is one of the biggest advantages over other self-employed retirement options. The IRS has gotten much better about clarifying Solo 401k rules in recent years, so don't let the initially confusing documentation discourage you - it's really one of the best retirement savings tools available for self-employed individuals!

I went through this exact same confusion when I started my consulting business last year! The key thing that finally cleared it up for me was realizing that Solo 401k contributions are NOT business deductions - they're personal retirement contributions that happen to be tied to your self-employment income. Here's what I learned: Both the employer and employee portions go on Schedule 1, Line 16. The employer portion is limited to 25% of your net self-employment earnings (after deducting half of your SE tax), and the employee portion can be up to $23,000 for 2025 ($30,500 if you're 50+). The total can't exceed $69,000. One mistake I made initially was trying to deduct them on Schedule C thinking they were business expenses - don't do that! The IRS sees retirement contributions as adjustments to your personal income, not operating costs of your business. Make sure you establish the plan by December 31, 2025, but you can make contributions until your tax filing deadline (including extensions). I used Fidelity for my Solo 401k and they provided clear year-end statements showing the employer vs employee contribution breakdown, which made filing much easier. The tax savings are substantial - definitely worth the initial confusion to get it set up correctly!

Does anyone know if you can still get the refund advance if you have tax payments due from previous years? I owe about $800 from 2023 that I'm on a payment plan for, but I should be getting about $3000 back this year.

Just to add some helpful context for everyone asking about eligibility and amounts - the TurboTax refund advance program typically has a few key requirements beyond just the minimum refund amount: 1. Your expected federal refund needs to be at least $500 (as mentioned earlier) 2. You can't have any federal tax liens or levies 3. Your Social Security benefits can't be garnished 4. You need to pass their identity verification process The advance amounts are usually tiered: $250, $500, $750, $1,000, $1,250, $2,000, $3,500, or $4,000 depending on your expected refund size and their risk assessment. One thing I learned from experience - if you're planning to use the advance, make sure you have all your tax documents ready to go on January 2nd. The sooner you file after the program launches, the better your chances of getting approved, especially if you're borderline on any of their criteria. Also, keep in mind that while there are no fees for the advance itself, you do need to use TurboTax's paid service (usually around $60-120 depending on your return complexity) unless you qualify for their free version.